BP Reaches Agreement with Indian Firm on PET Project in Belgium

6:14 AM MDT | August 4, 2011 | Ian Young

BP says it has reached an agreement with JBF RAK (Mumbai) for a previously announced project to construct a 390,000-m.t./year polyethylene terephthalate (PET) plant at BP's Geel, Belgium manufacturing complex. JBF will build and operate the PET plant adjacent to BP's purified terephthalic acid (PTA) unit at Geel, and the PTA plant will supply feedstock to the new PET unit. Start-up of the PET plant is scheduled for 2014. BP has capacity for 1.4 million m.t./year of PTA and 600,000 m.t./year of para-xylene at Geel. "This new PET plant leverages BP's scale...